Oil Prices Drop After Report OPEC May Boost Output
- 6 years ago
According to Business Insider, oil prices are down amid reports that OPEC may boost output ahead of US sanctions against Iran.
The sanctions effectively cut Iranian produced oil out of the market for many of the world's oil traders.
In response to a report from Reuters, West Texas Intermediate crude oil fell below $70 per barrel, while Brent crude oil dropped over 1-percent for the price of a barrel.
The sanctions effectively cut Iranian produced oil out of the market for many of the world's oil traders.
In response to a report from Reuters, West Texas Intermediate crude oil fell below $70 per barrel, while Brent crude oil dropped over 1-percent for the price of a barrel.